The agency emphasizes that Russian oil is being sold above the Western-imposed price cap of $60 per barrel. Journalists remind us that the aggressor country, Russia, is utilizing a so-called shadow fleet of old vessels to circumvent these restrictions. Many of these ships are considered less safe and prone to oil spills, according to shipping experts.
Following Russia's invasion of Ukraine in February 2022, the U.S. imposed sanctions on dozens of such vessels from a fleet estimated to consist of hundreds of ships, in an effort to reduce funding capabilities for the invasion, the agency reports. As of December 12, 2024, Ukrainian intelligence has identified 238 vessels that the occupiers are using to bypass price restrictions.
One source from the agency indicated that the U.S. is preparing a significant sanctions package against these tankers. According to another source, this package will likely also include measures against individuals involved in certain networks trading oil at inflated prices.
Reuters notes that the Biden administration is trying to bolster support for Ukraine before the elected president, Donald Trump, takes office on January 20.
The article states that after the onset of Russia's full-scale military invasion of Ukraine in February 2022, the U.S. imposed sanctions on dozens of such vessels. In particular, the U.S. Department of the Treasury imposed sanctions on the Russian tanker group "Sovcomflot" on February 23, 2024, and designated 14 oil tankers as assets in which it holds an interest.